Store Brands

NOV 2016

Store Brands delivers unprecedented strategic and tactical information needed by retail executives to develop and support compelling, differentiated store brand programs to build customer loyalty.

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Category Intelligence 1 5 0 Store Brands / November 2016 / Alkaline battery shelf-life previously was three to five years. Today, many manufacturers — including FDK America Inc. — offer a 10-year life, Taniguchi says. "Longer shelf life provides the incentive for consumers to buy and store batteries rather than buy batteries only as needed," he adds. And retailers participating in the own-brand candle space also need to address current and emerging trends. For example, candles featuring natural waxes such as those made from coconut, palm and soy, combined with essential oils and cotton wicks, are popular because they create a clean- burning candle with exceptional scent throw, Laguna Beach, Calif.-based Laguna Candles states on its website. "The correct wick size is an all- important component that will create an even wax pool from edge to edge, thus increasing the release of fragrance into the room," the company says. Packaging variety abounds for candles, as product is available in many sizes, shapes and formats, including tapers, votives, pillars, tealights, container/jar, floating, liturgical, outdoor, novelty, utility and birthday candles, NCA reports. Certain candles are popular gift items, so offering gift-wrapped options could benefit hurried shoppers plus increase retailers' bottom lines. As for the socks category, differentiation might be a winning goal. "Retailers and manufacturers should find ways to reinvigorate the socks category [including store brands] for women by setting a new fashion statement that treats socks as a special accessory and not a basic commodity," Cohen says. Socks are sold in packaging offering from one-pair to multi-pair options. Quality, variety and value drive sales of larger packages. Tout value, affordability Marketing and merchandising large varieties of in-demand store brand general merchandise products could pay off for retailers. Developing programs that underscore value and affordability is critical to protecting and increasing share for both store brand and national brand general merchandise marketers. Such programs could range from price reductions and buy-one-get-one free promotions to assortment stratification and co-marketing, relays "Private Label & National Brands: Dialing in on Core Shoppers," a January 2015 report from Chicago-based market research firm IRI. Taniguchi notes that FDK America's philosophy is that store brand products are branded, not generic products. "Retailers offering private label batteries should strategize on how they can grow their products as brands rather than as more affordable generic goods," he says. Tap into omnichannel Some consumers prefer ordering larger packs of products — for example, a 48-count AA store brand battery pack — online for home delivery rather than carrying it home from a store. "Emphasizing online sales is definitely a good opportunity for retailers to boost their private label battery sales," Taniguchi agrees. Specialty online retailers can offer five times or more general merchandise products within a specific category than what can be stocked in stores. "Any major retailer can create that same capability [via omnichannel] since they don't have to stock the inventory in their store," says Jim Wisner, president and founder of Libertyville, Ill.-based Wisner Marketing Group. SB

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